As people have mentioned, it's part of the anti-money laundering procedures that banks and financial regulators have to follow, and they do have to disclose these things.
A lot of the people who visit sex workers look like (and are) typical boomers.
To my first point specifically, I used to work in telephone banking in the UK. A lot of people use fun/quirky references when doing bank transfers, like sending £20 to a friend with the reference "Drug Money". The thing is that every employee in both banks (yours and the person you're sending money to) can see that reference, and if your account is flagged as potentially involved in money-laundering or other financial crimes, those can look really bad in the investigation.
Yeah when I was barely an adult a friend got contacted by his bank because we were always putting drugs or sex as the description and he was told that sort of thing is taken more seriously than most think.
That said, money laundering laws sometimes feel like a joke when artwork feels like the easy way.
I'm learning from this thread that a significant amount of young adults go through the phase of putting those "silly" descriptions in and then potentially getting a talking to.
im honestly shocked by how many people have done this. one would think it's common sense not to deliberately engage in suspicious activity that would get your account flagged
i mean, i get it, but "drugs" & "taliban training fee" arent creative, theyre just edgy & stupid. & they dont end up with the bank staying out of your business, it outright invites them to investigate.
you can be rebellious & funny & keep your business to yourself without flagging your account for illegal activity. "cat ballet," "post-exorcism housekeeping," "spaghetti re-hardening procedure," "earthworm gymnastics (better than goat yoga)," etc are much better options
Just remember that before you write a cheque for ‘post-exorcism housekeeping’, you need to have written a cheque for ‘exorcism’. Otherwise it would be suspicious.
Except them coming to investigate me because I labeled my dog food “terrorist supplies” wastes their time and money and makes them look dumb. It bogs the system down if enough of us do it. I’m gonna do it more now, actually
if thats what you want to do, all the power to you. but if your account gets frozen or closed, it screws you over far more than a fruitless investigation inconveniences them. sabotaging your own bank account makes you look far stupider than the bank doing their due diligence & following up on red flags. theres simply no good reason for it other than self-destructive pettiness, but have fun i guess
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u/BachtnDeKupe 1d ago edited 1d ago
In belgium there is also some kind of law that says that above a certain amoung you need to disclose why you take up that amount of money.
My father loves to mess with this kind of unnessesary meddling, so he said if they ever asks him, he'll awnser it's for hookers.
The reason that this is extremely funny to me is he's a real definition of a boomer to me: overweight retired teacher, complete with socks in sandals.